CSSC+ Flashcards
Can you describe any previous experience you have had with managing or tracking monetary transactions? What tools or methods did you use?
The tools I mainly use in tracking finances are Excel/Sheets, and Money Manager. For managing my finances, I use the 50/30/20 rule.
Invest 50%, 30% for immediate expenses, and 20% for emergency fund.
What is your level of proficiency with financial software or spreadsheets? Can you give an example of how you’ve used these tools effectively in the past?
I am fairly average in using financial software and spreadsheets. I would use apps and spreadsheets interchangeably depending on the account or situation. For my prepaid load retailing, I would use apps; for our the small businesses I’ve been involved with I would use both.
How would you ensure accuracy and accountability in handling financial transactions? Can you walk me through a process you would follow?
Receipts are something that can ensure both. I would always reserve a folder for every receipt I receive and tag it to my expenses. I would input the exact time and date of the transaction, the amount, whether it’s an income or an expense, its category, and the account it added or subtracted from.
Describe a time when you had to prepare a financial report. What steps did you take to ensure it was complete and accurate?
Of course, to ensure that each transaction was detailed accurately, one would have to be meticulous when transfering the information to an app or software. We should never neglect that part because if a mistake was made then the financial report would also display false information. I would also rely on programs, letting them review my output and compare it with the source file so as to be 100% accurate.
